TECHNOLOGY
Premji Invest may pump in $10-$15 million in San Francisco-based AI startup Galileo
Premji Invest is stepping up bets in global tech startups, as it looks to capitalise on the generative AI boom. It recently invested in Hugging Face, Hippocratic AI, Canva and Poolside
TECHNOLOGY
Exclusive: Former AWS country head Vaishali Kasture joins Microsoft, to lead SMC business in India and Asia
Vaishali Kasture will be the second top executive to depart from AWS to Microsoft in the last year, as the companies compete to get a larger share of the cloud business in India.
BUSINESS
Ola Consumer nears 1 lakh daily orders on ONDC; Bengaluru food delivery at 20% of Swiggy-Zomato's scale: Bhavish Aggarwal
Ola currently has three propositions on ONDC: food delivery, quick commerce and hyperlocal logistics. Ola is currently the biggest buyer app on the platform and accounts for 25% of ONDC’s overall business, Aggarwal told Moneycontrol in an interview.
BUSINESS
Funding is back, with a catch: Secondary share sales fuel $100 million rounds in Indian startups
While deals were mostly primary in nature in 2021, most rounds now include a significant portion of secondary share sales. As a result, valuations are lower, and stakeholders benefit from a win-win situation.
BUSINESS
Eruditus nears deal to raise $150 million in fresh round led by TPG
The discussions to raise money started sometime last year and the initial plan was just to do a small $50 million secondaries round where some early investors would take an exit. However, Eruditus after achieving a full year of Ebidta profitability decided to kick off a larger round and close it before flipping its base back to India from Singapore, a source told Moneycontrol.
BUSINESS
Hyderabad dislodges Chennai to become Cognizant’s largest centre globally
Sources say Cognizant’s Chennai headcount is in the 55,000-56,000 range. At the same time, Hyderabad has grown to over 57,000 employees and is growing at a faster clip.
BUSINESS
I'm an advocate for founders taking money in secondary sale, says Freshworks founder Mathrubootham
The statement comes amid ongoing debate among investors and founders over the sale of founder shares in secondary markets, a trend increasingly common among new-age companies
BUSINESS
Power struggle? Amit Agarwal in control of Amazon India as Manish Tiwary bows out
Over the past year or so, Amazon’s competitive intensity has reduced, according to a founder who is a top seller on both Amazon and Flipkart.
BUSINESS
FirstCry IPO enhanced our corporate governance and disclosures, says founder and CEO Supam Maheshwari
"There is no pressure for a company of our stature, size and maturity curve. What is the pressure if you have been delivering operational profitability for the last four years," says FirstCry founder Supam Maheshwari.
BUSINESS
Despite e-commerce slowdown, PAT doubled last year: Unicommerce promoter Kunal Bahl
Snapdeal-backed Unicommerce will open its initial public offer's (IPO) anchor book on August 5 and will list on bourses on August 13th.
BUSINESS
Have done enough for the market to see excitement on listing day: Ola Electric founder Bhavish Aggarwal
In a freewheeling conversation with Moneycontrol, the driven founder of Ola said he is prepared to face public market investors. He also said he is fully involved in Ola Electric as it is operationally intense.
BUSINESS
Unicommerce IPO anchor book to open on August 5, listing on August 13
The company has lowered the issue size of the offer for sale from 2.98 crore shares to 2.56 crore shares.
BUSINESS
FirstCry likely to list on stock exchanges on August 13
The startup will launch the anchor book for its IPO on August 5, with the issue likely to open for public subscription between August 6 and August 8, sources told Moneycontrol.
BUSINESS
Higher costs and price wars led to India Cements sale to UltraTech: N. Srinivasan
Srinivasan assured employees that despite the change in ownership to UltraTech, led by Aditya Birla Group Chairman Kumar Mangalam Birla, it would be business as usual for them.
BUSINESS
Unicorn alert! Trading startup Dhan in discussions to raise $100 million at $1.5 billion valuation
For Dhan, the new round will be its largest since its inception in 2021 and even the company’s valuation will increase significantly from around $150 million to a staggering $1.2-1.5 billion.
STARTUP
Modi 3.0 walks the talk on startups and tech in today's Budget
The startup ecosystem has long complained that the angel tax regime, which was originally started in 2012 as an anti-abuse measure to prevent money laundering, actually drove away smaller investors who couldn't afford the compliance burden.
BUSINESS
No flip-flops: LTI Mindtree COO Nachiket Deshpande backs hybrid working for employees
"We've always said that we would want to strike a balance and get the best of both worlds," Deshpande said. Most junior associates have been asked to work from office at least two days a week, he said.
BUSINESS
Regulatory spends in BFS, vendor consolidation driving demand for LTIMindtree: COO Nachiket Deshpande
In Q1, North America saw the highest growth on both QoQ and YoY basis, with the revenue contribution coming from this geography increasing to 75.1 percent, its highest since the merger of erstwhile L&T Infotech and Mindtree in November 2022.
BUSINESS
Hiring, interviewing, experience zones: How TCS is infusing AI into its operations
AI Experience Zones for innovating and experimenting, AI-based interviewers and coaches for hiring and deploying talent — here’s a sneak peek into TCS 2.0
TECHNOLOGY
Dairy Dreams: Milky Mist eyes IPO at Rs 20,000 crore valuation months after WestBridge talks fall through
Founded by a school dropout T Sathish Kumar, Erode-based Milky Mist ended FY 24 with a turnover of Rs 2,000 crore and a profit of around Rs 50 crore
BUSINESS
HCLTech has no plans to link variable pay to office attendance, says CEO C Vijayakumar
In February, the company made it a must for employees to report to office thrice a week
BUSINESS
Linking variable pay to office attendance not to punish employees, is temporary measure, says TCS HR chief
TCS CHRO Milind Lakkad also shared that the company has cleared all the fresher hiring backlog from previous years.
BUSINESS
Discretionary spending has not picked up, says HCLTech CEO C Vijayakumar
HCLTech expects to see growth across all verticals and geographies barring financial services in Q2.
BUSINESS
Premji Invest may pump in $50 million in Paris-based AI coding startup Poolside
Premji Invest is stepping up bets in global tech startups, as it looks to capitalise on the generative AI boom. It recently invested in Hippocratic AI and Canva
